Hours after RBI’s move to increase repo rate by 35 basis points, a number of lenders, including Bank of India and HDFC Bank, on Wednesday […]
Category: BFSI
UPI payment limit: This is the daily amount one can spend using GPay, PhonePe, and Paytm
Amazon Pay has also set a Rs 1,000,000 maximum money transfer limit via UPI. Notably, users can only transact up to INR 5,000 in the […]
Banks should not ask for verification at branch level if customer does e-KYC, says RBI
India’s Reserve Bank on Wednesday directed banks to not ask their customers for a physical verification at the branch, if they have already performed an […]
UPI transactions see 650% rise at semi-urban, rural stores: Report
The unified payments interface (UPI) transactions witnessed a meteoric 650 per cent rise at the semi-urban and rural stores in India this year, a report […]
Govt to allow foreign funds to own over 51% in IDBI Bank
The Indian government will allow a consortium of foreign funds and investment firms to own more than 51% in IDBI Bank Ltd, according to a […]
IDFC partners with Sa-Dhan to provide digital microfinance solutions to feature phone users
Private sector lender IDFC First Bank has partnered with the association of microfinance institutions Sa-Dhan and Delhi-based fintech solutions provider NextGen to provide digital microfinance […]
India’s Largest Retail Finance NBFC is Here – Shriram Finance Limited. Shriram Transport Finance and Shriram City Union Finance are now Shriram Finance
Shriram Transport Finance Company, the largest financier of commercial vehicles, and Shriram City Union Finance, the largest two-wheeler financer and leader in micro, small and […]
India records over 23 billion digital payments worth Rs 38.3 lakh crore in Q3
India logged 23.06 billion digital transactions worth Rs 38.3 lakh crore in the third quarter of FY23, stated a report on Monday. These digital transactions […]
RBI response sought on PIL seeking uniform banking code for forex transactions
The Delhi High Court on Monday sought the response from the Reserve Bank of India on a public interest litigation seeking uniform banking code for […]
SBI’s personal banking advances excluding home loans cross Rs 5 lakh-cr mark
State Bank of India’s (SBI)’s non home loan retail book has surpassed the milestone of Rs. 5 lakh crore, growing over Rs 1 lakh crore […]